Bitcoin Holds $1.2 Trillion in Unrealized Gains — But No Sell Signal Yet
With over $1.2 trillion in unrealized profits, bitcoin continues to intrigue the markets. Investors prefer to hold their positions despite a surge in gains of +125%. What lies behind this inertia?
In brief
- Despite $1.2 trillion in unrealized profits, bitcoin holders refuse to sell.
- Long-term holders curb the rise by liquidating since the arrival of BTC ETFs.
Bitcoin crosses the billions without triggering profit-taking
The threshold of $1.2 trillion in unrealized profits now fuels all speculation. According to Glassnode, the majority of BTC holders refuse to sell even after a significant price increase towards $106,000. This situation creates strong latent pressure, without triggering massive sales.
The on-chain analysis platform specifies that the market finds solid support around $98,300. This represents the average purchase cost of short-term holders. They also show a clear drop in selling activity since the peaks reached in May.
The technical environment confirms this blockage. Admittedly, June ended with a historic monthly close above $107,000. Having said that, the bitcoin price remains below its record of May 22 at $111,970. This paradox further fuels a tense climate where the price rises, but the available supply does not keep pace.
Long-term holders slow bitcoin’s surge
The behavior of long-term investors weighs on the current dynamics. According to some crypto analysts, these actors have begun liquidating their positions since the launch of Bitcoin ETFs . They are dumping their tokens on Wall Street, which explains why BTC struggles to sustainably surpass the $100,000 mark.
That’s not all! This movement is accompanied by massive HODLing by newer investors, who prefer to keep their tokens despite the rise.
On-chain data confirms this preference: sales remain low even in historically attractive price zones. The bullish market therefore seems suspended, awaiting a recovery in demand or exhaustion of historical sellers.
The psychological threshold of $100,000 thus becomes a front line where forces balance. Analysts expect a new catalyst to unlock the situation.
One thing is certain: as long as signals remain ambiguous, bitcoin continues to dance on a tightrope between accumulation and exhaustion. The next move could therefore redefine the entire crypto landscape!
